Source: Wall Street See
Before the conference, some comments suggested that Nvidia may not announce any breakthrough achievements, but Huang Renxun and other Nvidia executives may take this opportunity to emphasize the achievements of Nvidia in the AI boom and demonstrate the company's long-term growth prospects. Some comments also believe that any relevant comments by Huang Renxun may become a driving force for the stock price. Huang Renxun's comments on AI chips during his recent trip to Asia have caused the stock price to rebound, and his related comments may boost market sentiment and make investors feel that Nvidia has not yet reached its revenue peak.

According to Goldman Sachs brokerage data, recently, 'smart money' has been fleeing from US stocks and flowing into the stock markets of emerging markets in Asia such as China.

According to Goldman Sachs main brokerage business records data as of August 2nd, last Friday, hedge funds continued to sell global stocks for the third consecutive week. Among them, the scale of their selling of North American stocks exceeded that of buying stocks in other regions.

Looking at the regions, according to Goldman Sachs data, emerging markets in Asia are the regions where hedge funds have the largest net buying of stocks. As of last Friday, hedge funds' buying of Chinese stocks achieved net buying for the first time in three weeks, and reached their largest net buying scale in two months.

Looking at the products, according to Goldman Sachs data, hedge funds' investment in macro products such as indexes and ETFs has been net selling for the second consecutive week. They mainly sold short, and there was little net capital activity in individual stocks.

Looking at the industries, according to Goldman Sachs data, seven of the 11 global sectors have seen risk investment closures. Hedge funds sold individual stocks in the medical and health sectors of the global market at the fastest rate since August 2023, mainly selling long.

At the same time, non-essential consumer products are the sector where hedge funds have the most net buying of funds, and this sector has seen four consecutive weeks of net buying in the past five weeks.

At the sub-industry level, hotels, catering and leisure, integrated retail, textiles, clothing and luxury goods are the industries where there is the most net buying. Among the sold industries, hedge funds continue to withdraw capital from essential consumer products, which has seen net investment outflow in seven of the past eight weeks.

Wall Street News previously mentioned that the US stock market is experiencing a 'historic switch', and investors are reallocating funds from technology stocks to other previously lagging sectors. However, essential consumer products have not been able to get on the bandwagon of the rotation of the US stock market.

Why are consumer stocks not rising? Looking at their financial performance, US essential consumer product industry corporate reports show uneven pricing power, especially among low-income US consumer groups who have become exhausted from high prices, which has to some extent weakened the sector's traditional defensive position in investment portfolios.

Editor/Jeffy